Financial Analysis

A.In what ways has the company you have chosen made use of international financial market as a source of finance. Stora Enso is an integrated paper, packaging and forest products company producing publication and fine papers, packaging boards and wood products, areas in which the Group is a global market leader. Stora Enso sales totalled EUR 12.8 billion in 2002. The Group has some 42 500 employees in more than 40 countries in five continents and about 15 million tonnes …

…However using these techniques might bring some problems such as: * Dishonest management * Inadequate control environment * Changes in auditors, outside legal counsel, or CFO * Changes in accounting principles or estimates * Large deficit of cash flow from operations relative to net income * Substantial disparity between sales & receivable growth * Substantial disparity between sales & inventory growth * Large increase or decrease in gross margins * Recording revenue when risks remain with seller * Presence of commitments and contingencies